Free 2008 Form 5S - Wisconsin Tax-Option (S) Corporation Franchise or Income Tax Return (pdf fillable format) - Wisconsin


File Size: 314.7 kB
Pages: 4
Date: January 30, 2009
File Format: PDF
State: Wisconsin
Category: Tax Forms
Author: IS&E Admin
Word Count: 1,565 Words, 17,134 Characters
Page Size: Letter (8 1/2" x 11")
URL

http://www.dor.state.wi.us/forms/2008/08ic-049f.pdf

Download 2008 Form 5S - Wisconsin Tax-Option (S) Corporation Franchise or Income Tax Return (pdf fillable format) ( 314.7 kB)


Preview 2008 Form 5S - Wisconsin Tax-Option (S) Corporation Franchise or Income Tax Return (pdf fillable format)
Tab to navigate within form. Use mouse to check applicable boxes, press spacebar or press Enter.

Save

Print

Clear

Form

5S

Wisconsin Tax-Option (S) Corporation Franchise or Income Tax Return
and ending
M M D D Y Y Y Y M M D D Y Y Y Y

2008
A Federal Employer ID Number B Business Activity (NAICS) Code

For 2008 or taxable year beginning

Complete form using BLACK INK.
Corporation Name

Due Date: 15th day of 3rd month following close of taxable year.

DO NOT STAPLE OR BIND

Number and Street City D Check if applicable and attach explanation: 1 2 First return - new corporation or entering Wisconsin Final return - corporation dissolved or withdrew 3 4 Short period - change in accounting period Short period - stock purchase or sale State

ZIP(+4digitsuffixifknown) C State of Incorporation

and

Year

Enter abbreviation of state in box, or if a foreign country, enter below.

Check if applicable and see instructions: E F G H I If this is an amended return, attach an explanation of the changes. Ifyouhaveanextensionoftimetofile,entertheextendedduedate
M M D D Y Y Y Y

If no business was transacted in Wisconsin during the taxable year, attach a complete copy of your federal return. IfyouarefilingaForm1CNSonbehalfofnonresidentshareholders. Effective date of Wisconsin tax-option corporation election
M M D D Y Y Y Y

*C15S08991*
NO COmmAS; NO CENTS 1 2 3 4

J Total number of shareholders L

K Number of nonresident shareholders

IfyouhaverelatedentityexpensesandarerequiredtofileScheduleRTwiththisreturn.

ENTER NEGATIvE NumBERS LIKE THIS 1000

NOT LIKE THIS (1000)

1 Federal, state, and municipal government interest (see instructions) . . . . . . . . . . . . . . . . . . . . 2 Wisconsin apportionment percentage (from Form 4B, line 11, or Form 4B-1). This is a required field. If percentage is from Form 4B-1, check the space after the arrow. . . . . 3 Multiply line 1 by line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Enter 7.9% (0.079) of the amount on line 3. This is gross tax . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Manufacturer's sales tax credit (from Sch. MS, line 3) . . . . 5 6 Communitydevelopmentfinancecredit . . . . . . . . . . . . . . . 6

.00
.
%

.00 .00 .00 .00 .00 .00 .00 .00 .00

.00 .00
7 8 9 10 11 12 13

7 Add lines 5 and 6. This is total nonrefundable credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Subtract line 7 from line 4. If line 7 is more than line 4, enter zero (0). This is net tax . . . . . . . . 9 Additional tax on tax-option (S) corporations (from page 2, Schedule Q, line 10) . . . . . . . . . . . 10 Recyclingsurcharge(frompage2,ScheduleS,line4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Endangered resources donation (decreases refund or increases amount owed) . . . . . . 12 Veterans trust fund donation (decreases refund or increases amount owed) . . . . . . . . . . . . . . 13 Add lines 8 through 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Estimated tax payments less refund from Form 4466W. If this is an amended return, see instructions . . . . . . . . . . 14 15 Wisconsin tax withheld on amount on line 1 . . . . . . . . . . . 15 17 Interest, penalty, and late fee due (from Form 4U, line 17 or 26). If you annualized income on Form 4U, check the space after the arrow . . . . . . . . . . . . 18 Tax due. If the total of lines 13 and 17 is larger than line 16, enter amount owed. . . . . . . . . . . 19 Overpayment. If line 16 is larger than the total of lines 13 and 17, enter amount overpaid . . . 20 Enter amount of line 19 you want credited to 2009 estimated tax 20

.00 .00
16 17 18 19 21 22 23

16 Add lines 14 and 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

.00 .00 .00 .00 .00 .00 .00
Go to Page 2

.00

21 Subtract line 20 from line 19. This is your refund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Enter total company gross receipts from all activities (see instructions) . . . . . . . . . . . . . . . . . . 23 Enter total company assets from federal Form 1120S, item F . . . . . . . . . . . . . . . . . . . . . . . . . .
IC-049i

For Department Use Only

2008 Form 5S

Page 2

of 4

24 If the tax-option corporation paid, accrued, or incurred more than $100,000 of expenses toarelatedentity,ScheduleRTmustbefiledwiththisreturn.Certain related entity expenses may not be allowable unless disclosed on Schedule RT on a timely filed return. See instructions for details. On line 24, enter the total related entityexpensesdisclosedonScheduleRT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 If the tax-option corporation paid withholding tax on income distributable to nonresident shareholders, enter total amount paid for all shareholders for the taxable year . . . . . . . . . . . . Schedule Q - Additional Tax on Certain Built-In Gains 1 Excess of recognized built-in gains over recognized built-in losses (attach schedule) . . . . . . . . 2 Wisconsin taxable income before apportionment (attach computation schedule) . . . . . . . . . . . 3 Enter the smaller of line 1 or line 2. This is the net recognized built-in gain (see instructions) . . 4 Wisconsin apportionment percentage (from Form 4B, line 11, or Form 4B-1). This is a required field. If percentage is from Form 4B-1, check the space after the arrow . . . . 5 Multiply line 3 by line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Wisconsin net business loss carryforward (attach schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Subtract line 6 from line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Enter 7.9% (0.079) of the amount on line 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Communitydevelopmentfinancecredit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

24 25

.00 .00 .00 .00 .00
.
%

1 2 3 4 5 6 7 8 9

10 Subtract line 9 from line 8. This is the additional tax to enter on Form 5S, page 1, line 9 . . . . . 10 Schedule S - Recycling Surcharge 1 Enter net income (loss) (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Wisconsin apportionment percentage (from Form 4B, line 11, or Form 4B-1). This is a required field. If percentage is from Form 4B-1, check the space after the arrow . . . . 3 Multiply line 1 by line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Enter the greater of $25 or 0.2% (0.002) of the amount on line 3, but not more than $9,800. This is the recycling surcharge to enter on Form 5S, page 1, line 10 . . . . . . . . . . . . . . . . . . . . . Additional Information Required 1 Persontocontactconcerningthisreturn: 2 Cityandstatewherebooksandrecordsarelocatedforauditpurposes: Phone#: Fax#: 1 2 3 4

.00 .00 .00 .00 .00 .00 .00
.
%

.00 .00

3 Are you the sole owner of any QSubs or LLCs? Yes No If yes, attach a list of the names and federal EINs of your solely owned QSubs and LLCs. Did you include the incomes of these entities in this return? Yes No 4 Did you purchase any taxable tangible personal property or taxable services for storage, use, or consumption in Wisconsin without payment of a state sales or use tax? Yes No If yes, you owe Wisconsin use tax. See instructions for how to report use tax. 5 DidanyadjustmentsmadebytheInternalRevenueServicetoyourincomeforprioryearsbecomefinalizedduringthisyear? Yes No Ifyes,seeinstructionsandindicateyearsadjusted: 6 ListthelocationsofyourWisconsinoperations:
Under penalties of law, I declare that this return and all attachments are true, correct, and complete to the best of my knowledge and belief .
SignatureofOfficer Preparer's Signature Title Date

Preparer's Federal Employer ID Number

Date

You must file a copy of your federal Form 1120S with Form 5S, even if no Wisconsin activity.
Ifyouarenotfilingelectronically,makeyourcheckpayabletoandmailyourreturnto: WisconsinDepartmentofRevenue PO Box 8908 Madison WI 53708-8908

Go to Page 3

*C25S08991*

2008 Form 5S

Page 3

of 4

Schedule 5K Shareholders' Pro Rata Share Items
(a) Pro rata share items (b) Federal amount (c) Adjustment (d) Amount under Wis. law

1 Ordinary business income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . 2 Net rental real estate income (loss) (attach Form 8825) . . . . . . 3 Other net rental income (loss) (attach schedule) . . . . . . . . . . . . Income (Loss) Deductions 4 Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Ordinary dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Royalties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Net short-term capital gain (loss) . . . . . . . . . . . . . . . . . . . . . . . . 8 Net long-term capital gain (loss) . . . . . . . . . . . . . . . . . . . . . . . . . 9 Net section 1231 gain (loss) (attach Form 4797) . . . . . . . . . . . . 10 Other income (loss) (attach schedule) . . . . . . . . . . . . . . . . . . . . 11 Section 179 deduction (attach Form 4562) . . . . . . . . . . . . . . . . 12 a Contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b Investment interest expense. . . . . . . . . . . . . . . . . . . . . . . . . . c Section 59(e)(2) expenditures (1) Type (2) Amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . d Other deductions (attach schedule) . . . . . . . . . . . . . . . . . . . . 13 a Manufacturing investment credit - from carryover at shareholder level . . . . . . . . . . . . . . . . . . . . . . . . b Manufacturing investment credit - from carryover at entity level . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Dairy and livestock farm investment credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . d HealthInsuranceRisk-SharingPlanassessmentscredit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . e Ethanol and biodiesel fuel pump credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . f Development zones credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . g Development opportunity zone investment credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . h Development zone capital investment credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Credits i Technology zone credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . j Early stage seed investment credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . k Supplement to federal historic rehabilitation tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . l Film production company investment credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . m Film production services credit - nonrefundable portion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . n Internet equipment credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . o Enterprise zone jobs credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . p Dairy manufacturing facility investment credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . q Film production services credit - refundable portion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . r Tax paid to other states (enter postal abbreviation of state) (1) (2) (3) s Wisconsin tax withheld (do not include tax properly claimed on page 1, line 15) Foreign Transactions 14 a Name of country or U.S. possession . . . . . . . . . . . . . . . . . . . b Gross income from all sources . . . . . . . . . . . . . . . . . . . . . . . . c Gross income sourced at shareholder level . . . . . . . . . . . . . . Foreign gross income sourced at corporate level: d Passive category . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . e General category . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . f Other (attach statement). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .............. .............. .............. ..............

Go to Page 4

2008 Form 5S (a) Pro rata share items (b) Federal amount (c) Adjustment

Page 4

of 4

(d) Amount under Wis. law

Deductions allocated and apportioned at shareholder level: g Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . h Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Foreign Transactions Deductions allocated and apportioned at corporate level to foreign source income: i Passive category . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . j General category . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . k Other (attach statement). . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other information: l Totalforeigntaxes(checkone): Paid Accrued . . . . mReductionintaxesforcredit(attach statement) . . . . . . . . . . n Other foreign tax information (attach statement) . . . . . . . . . . Alternative minimum Tax (AmT) Items Other 15 a Post-1986 depreciation adjustment . . . . . . . . . . . . . . . . . . . . b Adjusted gain or loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Depletion (other than oil and gas). . . . . . . . . . . . . . . . . . . . . . d Oil, gas, and geothermal properties gross income . . . . . . . e Oil, gas, and geothermal properties deductions . . . . . . . . . f Other AMT items (attach schedule) . . . . . . . . . . . . . . . . . . . . 16 a Tax-exempt interest income . . . . . . . . . . . . . . . . . . . . . . . . . . b Other tax-exempt income . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Nondeductible expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . d Property distributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . e Repaymentofloansfromshareholders . . . . . . . . . . . . . . . . . 17 a Investment income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b Investment expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Dividend distributions paid from accumulated earnings and profits . . . . . d Other items and amounts (attach schedule) 18 a Relatedentityinterestexpenseaddback . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b Relatedentityrentalexpenseaddback . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Relatedentityinterestexpenseallowable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . d Relatedentityrentalexpenseallowable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Income/loss reconciliation (see instructions) . . . . . . . . . . . . . 20 Gross income (before deducting expenses) from all activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Schedule 5M Analysis of Wisconsin Accumulated Adjustments Account and Other Adjustments Account
(a) Accumulated Adjustments Account (b) Other Adjustments Account

1 Balance at beginning of taxable year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Ordinary income from Schedule 5K, line 1, column d . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Other additions (including separately stated items which increase income) (attach schedule) . . 4 Loss from Schedule 5K, line 1, column d . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ( 5 Other reductions (including separately stated items which reduce income) (attach schedule) . . . ( 6 Combine lines 1 through 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Distributions other than dividend distributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Subtract line 7 from line 6. This is balance at end of taxable year . . . . . . . . . . . . . . . . . . . . . ) ) ( )

Return to Page 1